AMD appoints new chairman, closes plant deal

From CNET News.com: AMD on Monday announced that Bruce Claflin has been appointed chairman of its board of directors. Claflin replaces Ruiz, who retired from AMD's board. Ruiz is now chairman of the board of The Foundry Company--the chip manufacturing concern that was spun off officially on Monday.

Claflin--who has been a member of AMD's board of directors since August 2003--has held senior positions with IBM and Digital Equipment and most recently was CEO and a member of the board of directors of 3Com. The AMD board also appointed Waleed Al Mokarrab to the board. Al Mokarrab is chief operating officer of Mubadala Development Company, the Abu Dhabi-based firm that is a major investor in The Foundry Company.

Dirk Meyer remains president and CEO of AMD.

AMD also announced on Monday that it has closed the deal to spin off its manufacturing operations to Advanced Technology Investment Company (ATIC) and Mubadala. AMD is billing the foundry as "the world's only U.S.-headquartered semiconductor foundry." Foundry companies, such as Taiwan Semiconductor Manufacturing Co., contract with outside chip design houses to build chips. The AM

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